A well-reviewed BD player for under $400 is the LG BD390. The unit has great output for blu ray, and does a very good job of upscaling DVDs.
Video Outputs include Component and HDMI
Audio Outputs include Toslink, Coaxial, HDMI, stereo and Analog 5.1
Video supports 1080p60 and 1080p24, as well as other popular formats
Also included is an 802.11n wi-fi connection for BD-Live streaming and quick and easy firmware updates.
Disk load times are fast, at 26 seconds total load time.
So, with the wifi, disk load speed and quality upscaling, the BD390 is nothing to be blue about.